Blue Cap AG Sells Subsidiary con-pearl GmbH to Inteplast Group

Blue Cap AG announced the sale of its subsidiary, con-pearl GmbH, to Inteplast Group Corporation. The transaction will yield proceeds in the high double-digit million range, exceeding the net asset value by over 10% as of December 31, 2024. This sale reflects an internal rate of return of over 60% per year and a 15x multiple on the capital employed.

Con-pearl, acquired by Blue Cap in 2019, manufactures lightweight plastic products for transport and storage packaging. Following the sale, Blue Cap has adjusted its 2025 forecast, projecting consolidated revenue from continuing operations between EUR 120–140 million, down from the previous EUR 200–220 million. The EBITDA margin is now expected to be 5.0–6.0%, reduced from 10.0–11.0%.